Tuesday, May 1, 2018
What If Buying Real Estate Was Like The Lottery?

It is in Shanghai! The opportunity to buy new property in Shanghai is slim to none with more interested buyers than available property itself. Not only is there a physical limit on the number of property, but also these properties are being sold at a bargain due to government price control. An example is the 3,100 buyers that registered for the 437 units of Joy City Property's newly launched Qiantan Ocean One project in Qiantan with a required initial investment of 7 million yuan ($1.1 million) As soon as the winners of the lottery was announced, all the property was sold priced between 75,000-95,000 yuan (US$11,876-15,043) per square metre. Without the government control, such property can cost about 120,000 yuan per square metre, thus such a purchase is an instant profitable investment. Would you enter a similar lottery for real estate if it occurred near you? 

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Tiffany TorganTiffany Torgan
Tiffany Torgan has 25 plus years experience in the Real Estate Industry

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